competition Flashcards

1
Q

What are some ways that a business can compete?

A

wider product range
higher quality
lower prices
better design

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2
Q

What is product differentiation about?

A

It is about making a product different from others in some way.

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3
Q

How does product differentiation help a business?

A

It helps them to position their products and target different target market segments.
It allows them to gain an advantage over rivals when faced with competition

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